Retail
Can someone explain to me how you make money off of retail if you are using a line like Bioelements?
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Replies to This Discussion
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Permalink Reply by David Torres on
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Retail is usually a 100% mark up, so you double the wholesale price.
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Permalink Reply by Amy Sherman on
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Yes, but then you aren't actually MAKING any money off of it because you have to use that income to BUY more product plus shipping. Right? It would seem you could MAKE more money only if you tripled wholesale prices.
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Permalink Reply by Jessica on
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If you bought a product at wholesale for $20 you would sell it for $40. You would then use $20 to replenish the product and the other $20 goes in your pocket. You may have to pay yourself a tad less to cover shipping cost but you get the idea.... right?
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I am not a mathlete. Which is why am I scared to do the last step and open my skincare Shop. I really don't understand this because you have to PAY for the product up front. so part of the price goes into paying me back and then the other half goes into buying the next product. I don't see where the PROFIT is. I see where I can LOOSE money.
If I bought a product for $20. Sell it for $40.00, $20, would pay for the actual product and $20.00 would go to buying the next product. Plus I'm out 2.00 for shipping. So where is my $20? I would ONLY get that if I didn't purchase MORE product. Sounds like some sort of scam. Am I making any sense? Maybe I am just dumber than a box of rocks...
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The client gave you $40 to buy a product that cost you originally $20. Now half of that money paid you back for the original purchase of the actual product and the other half goes towards purchasing it again which means that the client paid to replenish your shelf! When you sell that product again half of it goes straight into replenishing but the other half is pure profit because the client paid to replenish the shelf this time.This is how retail works, trust me it is not a scam. (:
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No, but I still don't see the profits. Do you ACTUALLY make a profit? The client is replenishing the shelf, but you will still have to purchase again. Which means she is paying you her 20 for the product and 20 to purchase the next product. Factor in MY time spent marketing, setting up the shelving, tagging, and the marketing software, plus shipping, plus the actual sales time, I'm not sure it's worth the profit. I know that this is "how it's done" but is it actually a benefit? Do you make a LOT of money this way? I currently do NOT sell retail. but when I did, I worked for someone else. She gave a me a percentage of everything I sold. So if you factor that in to account also, I am not sure she was making anything. Plus the two that sat on the shelf in which THEY were discounted. I'm not saying you're wrong, and I'm not trying to argue, but I still don't see it. Factor in that they can buy in online on amazon for less than I can sell it, I think It's a bum deal.
The locals here sell stuff in a touristy area and I went to speak with one of our business leaders and he laughed at me. He said that this kind of mark up doesn't make you any money. It's a great service to offer people, but you aren't going to really make MONEY on it.
On the flip side of that, I was only thinking of the FIRST buy not the second and so forth. So thanks for opening my eyes up! :D I'm a little slow with this side.
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You are going to totally laugh at me! I just sat down with a bunch of pennies and physically did this to see what I would have! HAHAHAHA! You are RIGHT! LOL I'm a complete Moron! HAHAHAHA!
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